Williamsburg, Va.-based Sotherly Hotels Inc. announced in a news release Tuesday it purchased the Georgian Terrace Hotel in Midtown from CSC Georgian Terrace Limited Partnership for $61.0 million. The acquisition includes the hotel, its adjacent 698-space parking deck and the 0.6-acre lot on which both sit.

The 326-room independent, full-service hotel will be managed by Chesapeake Hospitality. Sotherly is a company specializing in the acquisition, renovation, upbranding and repositioning of upscale hotels. Built in 1911, the Georgian Terrace is located at 659 Peachtree St. and listed on the National Register of Historic Places.

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